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personal bankruptcies on the rise

Discussion in 'Accounting, Tax & Legal' started by Nigel Ward, 20th Apr, 2006.

  1. Nigel Ward

    Nigel Ward Team InvestEd

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    Provisional Bankruptcy Statistics for the March quarter 2006

    In fact a 20% increase compared to the December quarter 2005 and almost 12% up on the same period last year. Of concern though, Vic and NSW both registered increases of over 30%.

    Is it a case of WA & QLD lead while the rest falter???

    N.
     
  2. MichaelWhyte

    MichaelWhyte Well-Known Member

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    Nigel,

    If that's supposed to be a hyperlink, then it ain't working for me...

    Do you have access to the full article?

    Very interesting,
    Michael.
     
  3. Nigel Ward

    Nigel Ward Team InvestEd

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  4. Alan

    Alan Well-Known Member

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    Actually, while the percentage increase for NSW sounds like a lot, I was a little surprised that considering the population of NSW(Abt. 6mil), the actual number was lower than I would have expected.

    Gone from 1480 to 1977. As a percentage of the State population it went from 0.02466% to 0.03295%.

    Obviously a terrible situation for those involved, but hardly in epidemic proportions either.
     
  5. Jacque

    Jacque Team InvestEd

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    Good point Alan. Stats can be tricky and even misleading, until they're broken down and looked at more carefully.

    More bankruptcies to follow with 1%+ int rate rises for those investors or home buyers silly enough not to have contingency plans.